BP Costs Could Soar to $63 Billion

As BP watches its bill rise quickly for the oil spill, including $20 billion it is setting aside for claims, it could find the tally growing much faster in coming months if the U.S. Department of Justice files criminal charges against the company. Predictions by analysts of the overall cost of the spill to BP have been rising. On Wednesday, Pavel Molchanov, an analyst at Raymond James, estimated the total legal cost, including criminal fines, at $62.9 billion, which would dwarf the $20 billion escrow account to be used to pay claims of economic loss – NYT

1 Comment on BP Costs Could Soar to $63 Billion

I wonder why the US government was not that forthcoming in enforcing accountability on the Wall Street as it is on BP, not to mention the blind eye they turned to Union Carbide when thousands were killed in Bhopal gas disaster in 1984 in India. I fail to understand the clout that Wall Street enjoys in DC. Too big to fail, life blood of capitalism, all sorts of cliches are thrown around when it is time to save Wall Street's skin.
Stephanie Mcnealy